Mortgage servicer

A company that collects mortgage loan payments from property owners and remits them to the mortgage holder in exchange for a fee. Mortgage servicers also may set aside taxes and insurance premiums in an escrow account. A mortgage servicer can be a division of a big bank or an independent company. Some mortgage holders service their own mortgages.

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If you're bracing for the minimum payment on your home equity line of credit to go up — way up — there's no need to panic. There are lots of ways to deal with repaying this debt.